ACC 210 section (02) - Financial Accounting

Class # - 51714

Prerequisites: BUS Major or Minor or ACC Minor or MTD or ECO or ISE Major or SUNY Korea BUS
Major

Instructor: Carl J. Allocca, CPA

Spring Semester - 2021

Format: Online asynchronous course delivery. There will be audio lectures available during the
semester for students to access at their convenience. Since this course is being delivered in
an asynchronous format, we will not be meeting via Zoom during the semester.

Communication and Office Hours:

(1) Monday and Wednesday 12:00 – 1:30

(2) Weekly office hours will be held via Zoom. (see the faculty information section in
Blackboard for details)

(3) In addition, I will be available via http://www.remind.com for questions during office hours.
This is a messaging platform that will enhance our interaction during the semester

Here are links which will give you information on how to add yourself as a remind user to
this course and the remind code for the course:

http://www.viewpure.com/DLP__QYSOj4?start=0&end=0

https://www.remind.com/join/acc21002sp

(4) In addition, to the office hours above, you can E mail me at any time during the semester
with any questions or concerns regarding the course content or any other administrative
issues. I will respond to you in a timely manner.

E-mail : carl.allocca@stonybrook.edu

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Bulletin Description:

This course presents an introduction to fundamental financial accounting principles,

concentrating on identifying, recording, and communicating the economic events of a business
organization. Topics include the accounting cycle, the preparation and presentation of the
income statement, retained earnings statement and balance sheet, and an in-depth exploration
of the measure and presentation of assets and liabilities.

Course Materials:

Required

(1) Financial Accounting, 9th Edition by Kimmel, Weygandt, Kieso, (includes WileyPLUS), John
Wiley & Sons Inc.

Course Goals:

The aim of this course is designed to introduce the student to, and explore the basic
financial accounting terminology, principles, concepts and their relevant applications.

This course will pursue this basic understanding in an effort to enable the student to begin
to think and communicate in a business, economic & financial environment.

Through a combination of discussion, lecture and most importantly illustrative exercises

and problems the accounting principles and practices will be reinforced and expanded upon in
an attempt to achieve this basic understanding.

Course Learning Objectives:

At a minimum, after completing this course you should be able to:

 Understand Generally Accepted Accounting Principles (GAAP), their use and application
in transactional reporting and financial statement preparation and presentation.

 Prepare journal entries, adjustments and the basic financial statements.

 Understand the accounting information system concepts and applications, as well as

relevant account analyses.

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  Analyze and assess a company's operational performance and financial position using
various financial statement ratios.

 Prepare bank reconciliation and the related adjusting entries.

College of Business Program Learning Outcomes:

This course will meet the following College of Business program learning goal and
objectives:

 Knowledge

Goal: Students will demonstrate an understanding of and apply core business knowledge

Objective:
Solve discipline–specific problems demonstrating mastery of foundational business
knowledge.

 Critical Thinking and Analysis

Goal: Students will demonstrate the ability to think critically and to support decisions
using analytical methods.

Objectives:

Think critically

Use analytical methods to support decision making.

These program learning objectives will be met through the completion of a semester project,
which deals with analyzing transactions, creating adjusting and closing entries, the preparation
and presentation of the basic financial statements, and the analysis and assessment of a
company's operational performance and financial position. Exams and weekly homework
assignments will also be used to assess the mastery of these objectives where appropriate.

Grading and Assessment:

Exam # 1 – (Online via Blackboard) 20%

Exam # 2 – (Online via Blackboard) 20%
Final Exam – (Online via Blackboard) 20%
Comprehensive Accounting Cycle Project 30%
Homework submissions via WileyPlus 10%

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Grade Distribution:

A 95 - 100
A- 90 - 94
B+ 87 - 89
B 84 - 86
B- 80 - 83
C+ 75 - 79
C 70 - 74
C- 67 - 69
D+ 64 - 66
D 60 - 63
F below 60

Homework:

Selected homework will be assigned from each chapter covered. These assignments will be
completed and submitted online via Blackboard which is integrated with the WileyPLUS website,
and will comprise 10% of the total course grade. Please see the instructional video regarding
Wiley Plus registration and access that is included in the Wiley Plus folder in the Course
Documents section in Blackboard. The WileyPLUS student access card is required to register
online so that you will be able to view and complete the appropriate homework assignments.
The student access card is included with the textbook or it can be purchased from Wiley Plus
using their various purchase options. It is essential that all homework assignments are
attempted and submitted by the designated due dates. You will have to access the weekly
homework assignments by going to the WileyPlus Homework and Practice Assignments
content area in Blackboard and then you will be redirected to the WileyPlus website.

You will have four attempts to complete each homework assignment. The assignments are due
no later than 11:00 pm on the following dates:

Chapter 1 – February 10th

Chapter 2 – February 19th
Chapter 3 – February 28th
Chapter 4 – March 10th
Chapter 5 – March 19th
Chapter 6 – March 28th
Chapter 7 – April 7th
Chapter 9 – April 17th
Chapter 10- April 26th
Chapter 11- May 6th

Unfortunately, there will be no time extensions granted for late homework submissions.

Exercises:

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In Blackboard, I have prepared a detailed video analysis of selected exercises from those that
are listed in the course syllabus to reinforce the concepts that are covered in each chapter.

Exams:

There will be three exams administered this semester. The chapter content is indicated on the
projected course outline at the end of this syllabus. There will be a combination of conceptual
and computational questions. The exams will be accessible from 12:01 am until 11:30 pm on the
date of the exam per the course syllabus. The exams are timed and the timer will begin from
when you start the exam. The exams can be accessed in Blackboard in the content area titled
WileyPlus Exams. Once you access that content area you will be redirected to the WileyPlus
website to complete the exams.

Semester Project Assignment:

The semester project will require students to analyze financial transactions, record journal
entries, adjusting entries, prepare and present the basic financial statements, and prepare
closing entries. This will test your application of the content areas that we have covered in class
and is a comprehensive project which covers the material from chapters 1-5. In order to access
the semester project you should go to the WileyPlus Homework and Practice
Assignments content area in Blackboard. There you will see the project titled
Comprehensive Accounting Cycle Project. You will be redirected to the WileyPlus
website in order to begin the project assignment. The semester project will be assigned
on March 18th and is due for submission on April 24th

Presentation of Material on Blackboard (https://blackboard.stonybrook.edu)

Blackboard will contain the following areas of online course material that we will use throughout
the semester as follows:

Announcements – Course related notifications will be posted here and sent via E-mail.

Course Information - The course syllabus is contained in this section. This is the first
document that should be accessed to obtain an overview about the course.

Faculty Information – This contains contact information for me, which is already included in this
syllabus.

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Course Documents – This section contains the following folders:

(a) Video lectures - Video versions of class lectures via PowerPoint using Screencast- O-
Matic are available based on the designated dates per the projected course outline at the
end of this syllabus. Please contact me if you require closed captions to accompany the
video, and I will try to accommodate your request.

(b) Solution Walk Through Videos – Step by step analysis of some of the selected exercises
and problems that are in the course syllabus. You can access the walk-through
videos for all the chapters per the projected course outline by accessing the
WileyPlus Readings and Resources content area. Then access WileyPlus, Read,
Study and Practice and you will see in the top border the Solution Walk Through
Videos.

(c) Exercise Solutions – This will contain a video analysis of the solutions to selected
exercises that appear in the course syllabus. These exercises are to be utilized at your
discretion to reinforce content areas that you deem necessary.

(d) Semester Project – The semester project will be available based on the dates per the
syllabus. The details of the project are discussed in the syllabus.

(e) WileyPlus – This will contain WileyPlus registration and access information which
will provide you with a video and attachment which will give you all the information
you need to register.

(f) Remind - This will contain student user information and a related tutorial.

(g) Review Notes – Approximately one week before the scheduled exams, I will provide you
with review material which will illustrate computational problems and will provide you with
a list of concepts that you should review and be familiar with prior to taking each exam. I
hope that this resource will be beneficial to you.

Wiley Plus Readings and Resources - Once registered with WileyPlus, you will be able to
access the full digital textbook and other media resources such as Orion Personalized Practice,
Overview Videos, Solution Videos, Interactive Tutorials etc.

WileyPlus Exams – There will be a total of three exams this semester.

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WileyPlus Homework and Practice Assignments – There will be weekly homework
assignments which are required for submission via the WileyPlus website. In addition, there are
practice assignments that are optional and can be completed at each student’s discretion in
order to reinforce the chapter content areas and to prepare for the class exams.

Web Links – See the Accounting Reference Information Folder which contains links to external
accounting websites (such as Accounting Coach, Accounting Tools, Miss CPA etc.). These
will provide you with additional online resource material should you need supplemental
information during the semester.

Academic Integrity

Each student must pursue his or her academic goals honestly and be personally accountable for
all submitted work. Representing another person's work as your own is always wrong. Faculty is
required to report any suspected instances of academic dishonesty to the Academic Judiciary.
Faculty in the Health Sciences Center (School of Health Technology & Management, Nursing,
Social Welfare, Dental Medicine) and School of Medicine are required to follow their school-
specific procedures. For more comprehensive information on academic integrity, including
categories of academic dishonesty please refer to the academic judiciary website at:
http://www.stonybrook.edu/commcms/academic_integrity/index.html

Academic Dishonesty:

The College of Business regards any act of academic dishonesty as a major violation
punishable by severe penalties, including dismissal from the University. University policy
requires that instructors and GAs and TAs report all suspected cases of academic dishonesty to
the appropriate Academic Judiciary Committee, which is empowered to take strong action
against violators. Under no circumstances will the College of Business permit cheating of any
kind. Many activities constitute academic dishonesty. The following list is not inclusive, only
suggestive:

 Cheating on exams or assignments by the use of books, electronic devices, notes, or

other aids when these are not permitted, or by copying from another student.
 Collusion: two or more students helping one another on an exam or assignment when it is
not permitted.

 Ringers: taking an exam for someone else, or permitting someone else to take one's
exam. Submitting the same paper in more than one course without permission of the
instructors.

 Plagiarizing: copying someone else's writing or paraphrasing it too closely, even if it

constitutes only some of your written assignment.

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  Submitting the same paper in more than one course without approval of the instructors.

 Falsifying documents or records related to credit, grades, status (e.g., adds and drops,
P/NC grading), or other academic matters.

 Altering an exam or paper after it has been graded in order to request a grade change.
 Stealing, concealing, destroying, or inappropriately modifying classroom or other
instructional material, such as posted exams, library materials, laboratory supplies, or
computer programs.

 Preventing relevant material from being subjected to academic evaluation

General Information:

Student Accessibility Support Services (SASC): 

If you have a physical, psychological, medical or learning disability that may impact your course
work, please contact Student Accessibility Support Center, ECC (Educational Communications
Center) Building, Room 128, (631)632-6748. They will determine with you what
accommodations, if any, are necessary and appropriate. All information and documentation is
confidential. https://www.stonybrook.edu/commcms/studentaffairs/sasc/facstaff/syllabus.php

Students who require assistance during emergency evacuation are encouraged to discuss their
needs with their professors and Student Accessibility Support Center. For procedures and
information go to the following website: https://ehs.stonybrook.edu/programs/fire-
safety/emergency-evacuation/evacuation-guide-people-physical-disabilities

Critical Incident Management

Stony Brook University expects students to respect the rights, privileges, and property of other
people. Faculty are required to report to the Office of University Community Standards any
disruptive behavior that interrupts their ability to teach, compromises the safety of the learning
environment, or inhibits students' ability to learn. Faculty in the HSC Schools and the School of
Medicine are required to follow their school-specific procedures. Further information about most
academic matters can be found in the Undergraduate Bulletin, the Undergraduate Class
Schedule, and the Faculty-Employee Handbook.

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Access to the online Blackboard site for our course.

You can access class information on-line at: http://blackboard.stonybrook.edu. If you have
used Stony Brook's Blackboard system previously, your login information (Username and
Password) has not changed. If you have never used Stony Brook's Blackboard system, your
initial password is your SOLAR ID# and your user name is the same as your Stony Brook user
name, which is generally your first initial and the first 7 letters of your last name.
If you are having trouble logging into Blackboard, you will need to log into SOLAR
to verify your Net ID username & set your Net ID Security Question and Password.
You can access the following website to obtain general information regarding Blackboard:
https://it.stonybrook.edu/services/blackboard/BB-basics

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 Projected Course Outline

Session Topic Reading Exercises

2/1 – 2/9 Introduction to Financial Chap. 1 1, 4, 14, 16

Statements

2/10 – 2/18 A Further Look at Chap. 2 1,7,13, 15

Financial Statements

2/19 - 2/27 The Accounting Inform. Chap. 3 1, 2, 7, 9,

System

2/28 - 3/8 Accrual Accounting Chap. 4 2, 3, 5, 9, 10

Concepts

3/9 Class Exam # 1 Chapters 1 – 4 (Online exam via Blackboard.)

3/10 - 3/18 Merchandising Chap. 5 3, 5, 13, 16

Operation

3/18 Comprehensive Accounting Cycle Project is assigned

3/19 - 3/27 Reporting and Analyzing Chap. 6 1, 7, 9, 17

Inventory

3/28 - 4/5 Internal Control Chap. 7 9, 12, 17, 19

& Cash
.

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4/6 Exam # 2 Chapters 5, 6, 7 (Online exam via Blackboard.)

4/7 - 4/16 Reporting & Analyzing Chap. 9 1, 5, 9, 24

Long Lived Assets

4/17 - 4/25 Reporting & Analyzing Chap. 10 3, 6, 10, 25, 26

Liabilities

4/24 Comprehensive Accounting Cycle Project is due for submission via Blackboard.

4/26 - 5/5 Reporting & Analyzing Chap. 11 4, 8, 9, 21

Stockholders’ Equity

5/7 Final Exam - Cumulative Chapters 1-7, 9, 10, 11 (Online exam via Blackboard.)

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